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ARTICLE · 21 MAY 2025

A New Lease On LIFE: CSA Expands Listed Issuer Financing Exemption

Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

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On May 14, 2025, the Canadian Securities Administrators (CSA) announced Coordinated Blanket Order 45-935 – Exemption from Certain Conditions of the Listed Issuer Financing Exemption (Blanket Order) aimed at enhancing capital-raising flexibility for Canadian public companies by, among other things, increasing the limit on capital-raising under the existing Listed Issuer Financing Exemption (the Exemption).

CanadaFinance and Banking
Jacob Gofman
Jacob Gofman
Sabrina Radia-Bramwell
Sabrina Radia-Bramwell
Veronica Dimkovski
Veronica Dimkovski
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On May 14, 2025, the Canadian Securities Administrators (CSA) announced Coordinated Blanket Order 45-935– Exemption from Certain Conditions of the Listed Issuer Financing Exemption(Blanket Order) aimed at enhancing capital-raising flexibility for Canadian public companies by, among other things, increasing the limit on capital-raising under the existing Listed Issuer Financing Exemption (the Exemption).

This development builds on the CSA's broader efforts to improve market accessibility and foster a more competitive capital-raising environment in Canada. As discussed in our April 2025 bulletin, CSA Blanket Orders Aim to Warm Up Canadian Capital Markets, these initiatives reflect the CSA's continued efforts toward streamlining disclosure requirements and facilitating efficient capital formation for listed issuers.

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